Refined soya oil futures decline 0.30% on muted demand

Amid sluggish domestic demand against higher supplies from producing regions, refined soya oil were down by 0.30 per cent to Rs 668.80 per 10 kg in futures trade today as participants trimmed positions.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in October month traded lower by Rs 2, or 0.30 per cent to Rs 668.80 per 10 kg with an open interest of 65,670 lots.
Similarly, the oil for delivery in November contracts edged lower by Rs 1.60, or 0.24 per cent to Rs 671 per 10 kg in 40040 lots.
Analysts said reducing of exposure by traders due to weak demand in the spot market against ample stocks position on higher supplies from producing regions, mainly led to decline in refined soya oil prices at futures trade.